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of <h1>SEBI Sets New Guidelines for Trading Rupee Derivatives in IFSCs; Position Limits and Penalties Defined.</h1> The Securities and Exchange Board of India (SEBI) has issued guidelines for trading currency futures and options contracts involving the Indian Rupee in International Financial Services Centres (IFSC). Following the Reserve Bank of India's (RBI) decision, Rupee derivatives with foreign currency settlement are now permitted in IFSCs. Position limits for eligible market participants, including trading members, institutional investors, eligible foreign investors, and other clients, are set at 15% of total open interest or USD 1 billion equivalent, whichever is higher, except for other clients, which is limited to 6% or USD 100 million equivalent. Stock exchanges must enforce penalties for exceeding these limits.
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